Authored by: Richard Mazzochi , 萧乃莹 , 费思 , 虞磊珉 and 石璧宁

Tokenisation is one of the hottest topics in finance circles these days. This article introduces you to what tokenisation is, why it is important and explores some key legal and regulatory considerations, with a focus on Hong Kong and Chinese Mainland.

Last week, the Securities and Futures Commission of Hong Kong (“SFC”) published two highly anticipated circulars on tokenisation of SFC-authorised investment products and intermediaries engaging in tokenised securities-related activities. We will analyse these SFC circulars in future articles. For now, it suffices to say that the SFC’s latest regulatory guidance, along with other important initiatives taken by the Hong Kong Government, including the Hong Kong Monetary Authority (“HKMA”).

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